Europe is trying to soften the economic blow dealt by the coronavirus. EU leaders have signed off on an emergency rescue package to help countries deal with the immediate fallout of the crisis. They also agreed to set up a fund to secure the bloc's long term recovery. But they are still divided on how this should be financed. Wealthier northern countries are refusing to pool debt as requested by some southern countries. But Germany has agreed to increase the amount it pays into the EU budget.
Friday, April 24, 2020
Coronavirus Update: EU leaders agree on emergency fund
Europe is trying to soften the economic blow dealt by the coronavirus. EU leaders have signed off on an emergency rescue package to help countries deal with the immediate fallout of the crisis. They also agreed to set up a fund to secure the bloc's long term recovery. But they are still divided on how this should be financed. Wealthier northern countries are refusing to pool debt as requested by some southern countries. But Germany has agreed to increase the amount it pays into the EU budget.
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